PSE Circular for Brokers No. 675-98
PSE Circular for Brokers No. 675-98 • Philippine Stock Exchange • Circulars for Brokers • Apr 15, 1998
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April 15, 1998 PSE CIRCULAR FOR BROKERS NO. 675-98 DAILY DRILLING BULLETIN HIPPO-1 WELL (Sandakan Basin, Sulu Sea) Arco Philippines Inc. has initiated procedures for the suspension and plugging of the Hippo-1 well after encountering technical difficulty during the drilling operations. Two hydrocarbon zones have been encountered at depths beyond the design parameters of the original total depth of 11,755 feet measured depth. This limiting factor has thus prevented the operator from drilling deeper or conducting a drillstem test. The well has been drilled directionally to a final depth of 12,924 feet, or true vertical depth of 10,568 feet. LLjur This will be the final report for Hippo-1 well. (SGD.) GRISELDA J. G. BAUSA Director Energy Resource and Development Bureau
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